Don't get greedy, Just take the already earned profit and leave.

[I-Bit]

Having a target profit in trading is important, but a trader cannot have such a plan. In addition to this, it is also important that we do not lose control of our emotions because when this happens, it is for sure that instead of gaining profit, we will lose because of this matter.

because it helps a lot when we have proper control of our emotions we can't be without emotions when we do actual trades on a crypto exchange in this field.

It is a must to have a target for taking profits. It is impossible for someone to invest without a target. However, the target for taking profits won't guarantee anything. It the holder has no strong mentality, he/she can sell the coin before it reaches the target. That's why it is important to have good mentality as a holder or an investor as well.

Controlling emotion will be easy if we have knowledge and experience. We must ensure that we invest in crypto after we have sufficient knowledge and know the experience of successful people. This surely helps a lot for our investment.

[ajiz138]

As humans, we will definitely have the trait of greed, because it is a trait that is ingrained in us. We must try to get rid of this trait by controlling ourselves as best as possible.

One way that we can control ourselves is by continuing to increase our knowledge and learn from experience. At first I also tended to follow greed, but I was slowly able to control it as my knowledge and experience increased. I'm sure it works fine.

You are right that with experience we can control bad emotions such as greed. Greed will make us irrational in analyzing the market so that we can experience losses. suggests we should learn from the mistakes of being greedy in the past

Yes, if greed controls us, then all we will think about is profit and profit, so we no longer care about how much risk we will take in the future.

You are right it makes us unable to think rationally because we are no longer in proper control. Therefore, we have to be good at balancing everything by controlling ourselves so that we continue to think as we should, that way we can keep the risk as small as possible.

[bitbit97]

What if I am not greedy, but have set a plan when I would sell? For example I have bought Bitcoin when the price was $10k. $70k is a solid price to sell. I would have even sold it at $50k. x5 is more than enough. But what if I dont need $, want to keep Bitcoin or my plan (even if it is ridiculous) is to sell it $1kk ? Should I change my plan and sell then? Of course no. In my situation, I would sell it whenever I feel I want to sell.

[Mr. Magkaisa]

I started rehearsing my trading skills and strategy again on my favorite derivatives trading exchange, which is Digifinex. Although I am not yet trading with real money, I am still on the demo account, which usually offers a demo balance of $1000. Honestly, since I started practicing again, I have blown the demo balance more than three times now. First, when I started, I increased the balance from $1000 to $1500+ just in a day. I should have just rested for that day after making such a profit, but I got greedy (that's what it is) and decided to keep trading if I could increase the balance up to $2k, but my last trade blew the account.

It happened again the second time and again the third time, and I just kept blowing those accounts after making enough profit that I should have just taken a break every day and continued the next day.

You guys might be thinking that this is just a demo, so why worry? And my reply is that there is a need to worry because you can actually use the demo account to learn how to master and control your emotions and how to listen to your inner voice when it speaks to you to stop. You will also learn how not to get greedy, but you can achieve those characters if you actually handle your demo balance as if it's already your main balance (your real money).

Conclusion: I feel that greed is one problem in trading that can actually lead to unexpected losses. My advice is that, as a trader, always take that profit you have made. If, for example, you entered a position and it's really going in your direction, if you have seen a +$100-$500 profit, it's better to take it first.

          -     Yes, you are correct; one should not be greedy as a trader. We must be wise traders, and it is good for you if you are already training yourself to conduct trading in this field of the crypto space. Even we know that it is not easy to study and learn about crypto trading.

So it's really good that we know something about trading because it will help us a lot so that we can get a profit in the end while we study and practice on the actual platform of the exchange that we do trading on.

[Dr.Bitcoin_Strange]

          -     Yes, you are correct; one should not be greedy as a trader. We must be wise traders, and it is good for you if you are already training yourself to conduct trading in this field of the crypto space. Even we know that it is not easy to study and learn about crypto trading.

So it's really good that we know something about trading because it will help us a lot so that we can get a profit in the end while we study and practice on the actual platform of the exchange that we do trading on.

Trading is a process that needs to be learned properly, and while learning, the trader must develop some self-strategy that can help them win in the market. Any trader that fails to establish a proper trading strategy will experience more losses than profits. One thing about trading is that some people can easily get emotional if they don't plan themselves very well and become very disciplined. From my experience, it is very important to set a price target at which you can just cut the trade and take your already-earned profit. Anyone who fails to set a price to take profit might just get confused when the price becomes volatile in their predicted direction.

[milewilda]

          -     Yes, you are correct; one should not be greedy as a trader. We must be wise traders, and it is good for you if you are already training yourself to conduct trading in this field of the crypto space. Even we know that it is not easy to study and learn about crypto trading.

So it's really good that we know something about trading because it will help us a lot so that we can get a profit in the end while we study and practice on the actual platform of the exchange that we do trading on.

Trading is a process that needs to be learned properly, and while learning, the trader must develop some self-strategy that can help them win in the market. Any trader that fails to establish a proper trading strategy will experience more losses than profits. One thing about trading is that some people can easily get emotional if they don't plan themselves very well and become very disciplined. From my experience, it is very important to set a price target at which you can just cut the trade and take your already-earned profit. Anyone who fails to set a price to take profit might just get confused when the price becomes volatile in their predicted direction.

You would really be able to make those kind of realizations along the way on which on the time that you would really be able to realize that it is really that something that you must do for you to be able to sustain yourself into this market. Trading skills is never been that an easy thing to be acquired on which it would really be involving tons of efforts and tons of money for you to spend up first before you could really be able to have a good grasps into it on which it would really be just that normal that you would really be having that kind of approach.
Taking profits? Its always been the standard but it cant be really avoided to hold up someones position if they do know that the thing they've been holding does have a potential.

[I-Bit]

What if I am not greedy, but have set a plan when I would sell? For example I have bought Bitcoin when the price was $10k. $70k is a solid price to sell. I would have even sold it at $50k. x5 is more than enough. But what if I dont need $, want to keep Bitcoin or my plan (even if it is ridiculous) is to sell it $1kk ? Should I change my plan and sell then? Of course no. In my situation, I would sell it whenever I feel I want to sell.

Sure. The target to take profits will totally depend on the individual. $70k is very good price to sell the Bitcoin if you bough under $20k in 2022. You already get very satisfying profits at $70k. But because it is very possible to reach $100k, it is okay if you want to continue holding the Bitcoin. You can change the plan if it is necessary, but it depends on the situation. But if it is not urgent, you can continue keep holding until $100k.

[armanda90]

The trader habit when price pumping is not taking profit but show of their profitable or PNL earned, I don't know what happen with them and keep hold after increasing up with their coins holding and earn much profitable.
I think most of trader lack enough with how much profitable earn and want to get more although their profit increasing more than 10% or 30% of their capital.
I learned how much loss with greedy and won't to make the same mistake better earn few percent profitable with consistency than have to be long term holding but not much profitable earn.

[UNIVERSE]

The trader habit when price pumping is not taking profit but show of their profitable or PNL earned, I don't know what happen with them and keep hold after increasing up with their coins holding and earn much profitable.
I think most of trader lack enough with how much profitable earn and want to get more although their profit increasing more than 10% or 30% of their capital.
I learned how much loss with greedy and won't to make the same mistake better earn few percent profitable with consistency than have to be long term holding but not much profitable earn.

Sometimes, these holders are influenced by various predictions about the possibility of very high prices. And I became one of them. In 2021, there were many predictions regarding Bitcoin's ATH price that it would reach $100k at that time. But that really cannot be justified. Because in fact we were made very confused by the very rapid drastic decline at that time. So what happens is that we are very late in taking profits, and even more regretful because we can't take profits in the end.

And finally, you have to go through a long period of holding. Therefore, this is a great lesson for us. Money management is very important. Risk management is also very important. and having self-confidence and also a reasonable target in investing is very necessary. So that we can be on track in choosing what the target is and how to take profit system. So that whatever the ATH and its decline, we are all ready for it.

[taufik123]

-snip-
And finally, you have to go through a long period of holding. Therefore, this is a great lesson for us. Money management is very important. Risk management is also very important. and having self-confidence and also a reasonable target in investing is very necessary. So that we can be on track in choosing what the target is and how to take profit system. So that whatever the ATH and its decline, we are all ready for it.

The entry price target will be quite necessary so as not to wait too long to make a profit.
The ATH price target of $100k-$200k may still be a reasonable target right now, but if it exceeds that target or even millions of dollars, it is beyond expectations and too much.

People who target at unreasonable prices just want to hold on for life without profit being taken.
It is a greedy trait that will weigh on the investment and result in nothing but just waiting and continuing to wait.

[therozaq]

-snip-
And finally, you have to go through a long period of holding. Therefore, this is a great lesson for us. Money management is very important. Risk management is also very important. and having self-confidence and also a reasonable target in investing is very necessary. So that we can be on track in choosing what the target is and how to take profit system. So that whatever the ATH and its decline, we are all ready for it.

The entry price target will be quite necessary so as not to wait too long to make a profit.
The ATH price target of $100k-$200k may still be a reasonable target right now, but if it exceeds that target or even millions of dollars, it is beyond expectations and too much.

People who target at unreasonable prices just want to hold on for life without profit being taken.
It is a greedy trait that will weigh on the investment and result in nothing but just waiting and continuing to wait.

This is a classic problem that investors always face, greed will make us lose the opportunity to make a profit. Don't expect more than the target that has been achieved previously, if you feel you have achieved it, just go

[taufik123]

-snip-
This is a classic problem that investors always face, greed will make us lose the opportunity to make a profit. Don't expect more than the target that has been achieved previously, if you feel you have achieved it, just go

If it has been achieved then take profit, do not procrastinate for any reason.
That's better than continuing to hold but it will only go down eventually.
This will cause panic and of course the strategy will not work well.

Not being disciplined in the strategy made will lead to new problems and change all the planing made.

[taufik123]

This is a classic problem that investors always face, greed will make us lose the opportunity to make a profit. Don't expect more than the target that has been achieved previously, if you feel you have achieved it, just go

I've targeted where I'll take some or all of the profits.
If it is indeed achieved faster, then what is done is to follow the strategy that has been made.

With the benefits obtained, we can double the investment owned.
Buy when the price of Crypto has already dropped or experienced some fairly deep corrections.
Do not be influenced by FOMO that results in buying at too high a price.

[dekafee79]

This is a classic problem that investors always face, greed will make us lose the opportunity to make a profit. Don't expect more than the target that has been achieved previously, if you feel you have achieved it, just go

I've targeted where I'll take some or all of the profits.
If it is indeed achieved faster, then what is done is to follow the strategy that has been made.

With the benefits obtained, we can double the investment owned.
Buy when the price of Crypto has already dropped or experienced some fairly deep corrections.
Do not be influenced by FOMO that results in buying at too high a price.

Buying during FOMO is a big risk we take, we should avoid it. We really have to be able to see the market realistically and with a clear mind. I agree with you, buy when the crypto price really goes down and experiences a fairly deep correction, then we hold to wait for the price to rise so we can get a very big profit. if I prefer to be detained for the long term.

[koang]

What if I am not greedy, but have set a plan when I would sell? For example I have bought Bitcoin when the price was $10k. $70k is a solid price to sell. I would have even sold it at $50k. x5 is more than enough. But what if I dont need $, want to keep Bitcoin or my plan (even if it is ridiculous) is to sell it $1kk ? Should I change my plan and sell then? Of course no. In my situation, I would sell it whenever I feel I want to sell.

The essence of investing is to make a profit, to achieve that goal we need a well-designed strategy.
And before we buy any coin, The taking profit strategy should be fully outlined.
So we will never go into a trade or investment blind.
Because no one can accurately time tops or bottoms.
But Your Money, Your Rules...
And if you don't implement that strategy consistently, that's your choice.